Sumitomo Mitsui DS Asset Management Company Ltd Sells 41,888 Shares of HP Inc. $HPQ

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its position in HP Inc. (NYSE:HPQ) by 24.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,537 shares of the computer maker’s stock after selling 41,888 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in HP were worth $3,989,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HPQ. Investment Research Partners LLC increased its holdings in HP by 50.9% in the 3rd quarter. Investment Research Partners LLC now owns 31,837 shares of the computer maker’s stock valued at $996,000 after buying an additional 10,744 shares during the period. Maia Wealth LLC acquired a new position in shares of HP in the 3rd quarter valued at $250,000. Kaufman Rossin Wealth LLC acquired a new position in shares of HP in the 3rd quarter valued at $214,000. IFP Advisors Inc lifted its holdings in shares of HP by 15.1% during the 3rd quarter. IFP Advisors Inc now owns 42,008 shares of the computer maker’s stock worth $1,314,000 after acquiring an additional 5,498 shares during the period. Finally, Frank Rimerman Advisors LLC lifted its holdings in shares of HP by 2.9% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 40,869 shares of the computer maker’s stock worth $1,278,000 after acquiring an additional 1,151 shares during the period. 77.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider David McQuarrie sold 31,572 shares of the firm’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $32.12, for a total transaction of $1,014,092.64. Following the completion of the sale, the insider directly owned 8,008 shares of the company’s stock, valued at $257,216.96. This trade represents a 79.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 73,668 shares of company stock worth $2,232,982. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada began coverage on HP in a report on Thursday, September 10th. They issued a “sector perform” rating and a $33.00 target price for the company. Wall Street Zen cut HP from a “buy” rating to a “hold” rating in a research report on Saturday, September 26th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $32.00 price target on shares of HP in a research report on Thursday, August 27th. Zacks Research upgraded HP from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 7th. Finally, The Goldman Sachs Group lifted their price objective on HP from $19.00 to $21.00 and gave the company a “sell” rating in a report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, HP currently has an average rating of “Reduce” and a consensus price target of $25.42.

HP Trading Up 8.0%

Shares of HP stock opened at $33.82 on Friday. The stock has a market capitalization of $30.50 billion, a price-to-earnings ratio of 9.13, a P/E/G ratio of 1.63 and a beta of 1.17. The firm’s 50-day moving average price is $31.47 and its two-hundred day moving average price is $26.37. HP Inc. has a 1-year low of $17.56 and a 1-year high of $36.22.

HP (NYSE:HPQ) last posted its earnings results on Wednesday, August 26th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.17. The company had revenue of $15.68 billion during the quarter, compared to analysts’ expectations of $14.44 billion. HP had a net margin of 4.14% and a negative return on equity of 947.78%. HP’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 earnings per share. HP has set its FY 2026 guidance at 3.190-3.290 EPS and its Q4 2026 guidance at 0.690-0.790 EPS. As a group, equities research analysts predict that HP Inc. will post 3.23 EPS for the current year.

About HP

HP Inc (NYSE: HPQ) is a global technology company that develops personal computing and printing products, services, and solutions. Its portfolio includes laptops, desktop computers, workstations, monitors, peripherals, printers, digital printing systems, and related supplies such as ink and toner.

The company serves consumers, small and medium-sized businesses, large enterprises, and public-sector organizations through direct sales, online channels, retailers, distributors, and other business partners.